Lightning Minerals Hits High-Grade Gold and Base Metals at Mt Turner, Secures Funding for Phase 2 Drilling

Lightning Minerals Ltd. ( (AU:L1M) ) has provided an update.

Lightning Minerals reported a highly successful inaugural nine-hole drilling program at its wholly owned Mt Turner project in Queensland, confirming gold and base metal mineralisation in all holes, including high‑grade epithermal gold and significant zinc-silver intercepts. Follow-up soil and rock chip sampling extended known mineralisation along the Drummer Fault to 12km, identified multiple new targets, and reinforced the company’s exploration model, underpinning a fully funded Phase 2 drilling campaign scheduled to start in the first quarter of 2026. The company also advanced target generation at its Brazilian lithium projects, began evaluating newly acquired copper-gold assets in the Lachlan Fold Belt, strengthened its board with the appointment of experienced public company director David Vilensky as Non‑Executive Chairman, and ended the quarter with A$1.08 million in cash following a A$2.5 million capital raise.

The most recent analyst rating on (AU:L1M) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Lightning Minerals Ltd. stock, see the AU:L1M Stock Forecast page.

More about Lightning Minerals Ltd.

Lightning Minerals Ltd is an Australian exploration company focused on gold, base metals and lithium, with key projects including the Mt Turner gold-base metals project in Queensland and several lithium prospects in Minas Gerais, Brazil. The company also holds copper and gold projects such as Boree Creek, Burdett and Manildra in the Lachlan Fold Belt, positioning it within prolific mineral provinces and near established tier-one operations.

Average Trading Volume: 835,727

Technical Sentiment Signal: Sell

Current Market Cap: A$6.94M

For an in-depth examination of L1M stock, go to TipRanks’ Overview page.